Important announcement: burning and distribution of unsold DAN tokens
We have spent time reflecting on how to offer you the best token distribution in regards to several important criteria. After considering every possible scenario, we found an appropriate and most viable solution regarding what should be done for the unsold tokens. In this article, you will find an in-depth analysis of the new token allocation.
We have concluded that we will burn 60% of all the unsold tokens and redistribute 40% of them proportionally to all our investors.
What are the advantages of this distribution model?
1.As you might already know, the burning process allows a diminution of the total supply on the market and potentially contribute to an appreciation of the token price
2.This new distribution model allows our community to continue dominating the market with 56% of the Tokens holders.
3. This new distribution model guarantee the liquidity on the market and the scalability of the project as our token will be the only way to subscribe and use Daneel’s service.
So what is the new total supply and what is the new token allocation?
Here is the balance sheet of our sale: we sold 8 649 977 DAN tokens during ICO. Let’s calculate the amount of unsold tokens (regarding crowdsales supply, total sold during ICO and total sold during presale) :
60 000 000-(8 649 977+217 888) = 51 132 135 unsold tokens.
So with the final figures: for 51 132 135 unsold tokens, 30 679 281 (60%) tokens will be burnt and 20 452 854 (40%) will be distributed. It makes a new total supply of 69 320 719 DANs.
So, how many DANs will you receive?
Update : we already calculated a ratio without taking presale tokens into account, old ratio was : 3,3644, calculations including presale is now 3,3064. Calculation per token is described here :
(1 / (total sold tokens pre-ICO + ICO) ) * tokens to distribute
(1 / 8867865) * 20452854= 2,3064011462
What does that mean ?
For 100 DANs bought (including your bonus), you will have 230,64 DANs redistributed, so your new total will be 330,64 DANs. If you want to calculate your new total, you multiply your DANs by 3,3064.
This update will be soon visible on your Daneel account.
Here is the new allocation:
Investors:
29 320 719 of which 20 452 854 are distributed on a pro rata basis among all investors.
Company funds:
7 500 000 are preserved in reserve by the company. These tokens could be sold in the future, by lots, in the case of the company needing supplementary funds to cover expenditure linked to service development. The tokens will be held in a Multisignature wallet.
Team members:
20 000 000 are distributed to stakeholders (global team, counsellors, community) that have contributed actively to the success of the operation. These tokens will be stored in a Multisignature wallet. If a member of the team wants to sell its tokens, the transactions will require the signatures of multiple team members before the funds can be transferred. This process will allow the team to control the impacts on the token price.
Early investors:
5 000 000 are distributed to external investors of the enterprise. The tokens reserved for external investors will be distributed between the different structures and investors that have supported and financed the development of the Daneel project.
Bounty programs:
5 000 000 are distributed within the framework of the rewards program. The tokens allocated to the rewards programs will be distributed to community members that have participated in the distribution, communication, advertisement or translation of the project on the networks.
Product social rewards:
2 500 000 are distributed within the framework of the Product Social Rewards.
Even though the token price will be lowered by the redistribution, investors will sustain their value by receiving more tokens on their initial investment. In this instance, investors keep a majority stake of 56%, while Daneel keeps 44%. The new total supply and the token erosion* system will potentially lead to an appreciation in the value of the token in the next few years.
As the product is expected to be released by Q4 this year, the team will keep 32.5% of its 20 million tokens in a Multisignature wallet until the product is fully released. This will partially maintain price volatility.
* Every time a user will pay for a subscription, a principle of “erosion” will be applied to the token and 6% of the number of DAN issued will be burned.
BIG ANNOUNCEMENT COMING SOON…
we will announce the first exchange next month. We can already say that this will be a very good start for our community as it is listed as one of the biggest exchange.
If you have any questions, please contact us by email: information@daneel.io or in our dedicated Telegram Customer Support: https://t.me/daneelcustomersupport
